CXW Inverse Head and Shoulder + Bullish Divergence!
Updated
Hey Folks!
Not a fundamental analysis or financial advice, but trading idea on why it could do well in the coming months and beyond. I have discovered a technical repeat pattern in this one. I first found this stock after Trump made his statement regarding large deportations if elected. So naturally I look up prison stocks lol.
I made a nice trade on it last time it dipped and reversed, and I want to bring it to everyone's attention.
The overall pattern is shaping up nicely for a big move, a long election season is approaching border security will be a big deal and Core Civic will benefit in form of major government contracts, especially if Trump gets re-elected, even Biden might get pressured to crack down on border security.
From the company, I'd like to see a new fundamental catalyst to capitalize on this bullish setup.
Happy Trading!
OnePath
Not a fundamental analysis or financial advice, but trading idea on why it could do well in the coming months and beyond. I have discovered a technical repeat pattern in this one. I first found this stock after Trump made his statement regarding large deportations if elected. So naturally I look up prison stocks lol.
I made a nice trade on it last time it dipped and reversed, and I want to bring it to everyone's attention.
The overall pattern is shaping up nicely for a big move, a long election season is approaching border security will be a big deal and Core Civic will benefit in form of major government contracts, especially if Trump gets re-elected, even Biden might get pressured to crack down on border security.
From the company, I'd like to see a new fundamental catalyst to capitalize on this bullish setup.
Happy Trading!
OnePath
Note
Inching closer to that necklineNote
The neckline has been broken, looking good imoNote
This one is looking better and better, I think the BD is steering the ship.Note
Fundamental expansion to note. Last week, "CoreCivic Enters Into New Lease Agreement With the State of Oklahoma for the Davis Correctional Facility"
May 31 news about TN contract extension was briefly followed up on June 2 with, "
"The state of Tennessee awarded private company CoreCivic a new two-year contract extension (with a third-year option) with more money for its South Central Correctional Facility in Clifton, Tennessee."
Note
As of late the pattern has formed into a bullish pennant. Volume has steadily increased. So far so good.Note
Keep this one on your radar. Could be gearing up for much bigger move. This is my speculative Trump play for 2024. He keeps mentioning largest deportation in American history if elected. I believe this could significantly benefit CXW. We are about to breakthrough a long term Green Line. Earnings are also soon, and they have been fundamentally solid.Happy Trading everyone!
Note
Keep an eye on this one, i think it's just getting started. A Trump victory will set this one off further. It has done well and has a nice structure as the border crisis intensifies.Trade active
This one fully played out, could also just be getting started.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.